"There is not a moment in which God does not present Himself under the cover of some pain to be endured, of some consolation to be enjoyed, or of some duty to be performed. All that takes place within us, or through us, contains and conceals His divine action. All gentle souls must admire and respect one another, saying: 'Let us each proceed along our path to the same goal, united in purpose, and by the means of God's plan which, in its great variety, is in us all."
Jean-Pierre de Caussade

30 September 2016

"The mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which they have succeeded in obtaining in the different States, and which are employed altogether for their benefit; and unless you become more watchful in your States and check this spirit of monopoly and thirst for exclusive privileges you will in the end find that the most important powers of Government have been given or bartered away, and the control over your dearest interests has passed into the hands of these corporations."

Andrew Jackson, Farewell Address

The only funadmental in this market right now is fraud.

Gold gave up a little bit and silver gained some to close out the week.

The delivery reports for October are now coming in, and gold was off to a bang as Nova Scotia served up bullion markers for all those standing for delivery. Silver was relatively quiet.

"we are fairly near the end of the rope. Perhaps there is scope to reduce short-term interest rates a little bit more and to make them a little bit more negative. But there is not much scope.”

He also went on to observe that: "In a world where cutting-edge technology companies are awash with excess cash, it can hardly be a surprise that there is substantial downwards pressure on the level of real interest rates. Low neutral rates will be around “for a long time to come,” requiring policy makers to think more dynamically.

I had a chill run up my spine when the thought of President Hillary bringing him back into government again. Heavens to the downward-spiral-of-elitist-new-era-thinking.

No wonder economics is a disgraced profession. Some of its biggest and brightest stars are so conflicted by selfish interests and blinded by ideology that they could not formulate sustainable policy for a glee club.

Le Propriétaire

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Need Little - Want Less - Love More

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

"In the Incarnation the whole human race recovers the dignity of the image of God. Thereafter, any attack even on the least of men is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all. Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind." Dietrich Bonhoeffer

"A credibility trap is when the managerial functions of a society have been sufficiently compromised by corruption so that the leadership cannot reform, or even honestly address, the problems of that system without implicating a broad swath of the powerful, including themselves.

The moneyed interests and their aspirants tolerate the corruption because they have profited from it, and would like to continue to do so. Discipline is maintained by various forms of soft financial rewards and career and social coercion."

These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from learning by my mistakes, which are many. As a standing policy I never provide individual investment advice to anyone. I will only occasionally disclose my personal positions for purposes of illustration. Understand that my own circumstances could differ greatly from your own, and therefore what is suitable for me may not be suitable for you. My comments are intended to be reflection on general macro financial and economic events and trends.